SAI SIMRAN INFRATECH PRIVATE LIMITED,BHUBANESWAR vs. INCOME TAX OFFICER,WARD-1(1), BHUBANESWAR,ODISHA
In the result, all the four appeals of the assessee are allowed
ITA 86/CTK/2024[2015-16]Status: HeardITAT Cuttack04 Jun 2024AY 2015-16
For Appellant: Shri S.K.Agrawalla, CAFor Respondent: Shri S.C.Mohanty, Sr. DR
Section 147Section 148Section 151Section 271(1)(b)Section 271(1)(c)Section 69A
147 to 151 of the Act and therefore the reassessment order is liable to be quashed.
3. That, the Ld. Commissioner of Income Tax (Appeals) erred in facts in circumstances in confirming the additions of Rs.5,56,94,020 as short term capital gain whereas the assessee is a Real Estate developer and registered the flats valued at Rs.4
